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P Chidambaram Unveiled the National Skill Certification and Monetary Reward Scheme

Aug 17, 2013 10:04 IST

National Skill Certification and Monetary Reward SchemeThe Union Finance Minister P Chidambaram on 16 August 2013 unveiled the National Skill Certification and Monetary Reward Scheme that will be implemented on pan-India basis, in New Delhi. This is the first such kind of a scheme launched in India. The scheme was proposed by the Union Finance Minister in 2012-13 Union Budget in order to allocate 1000 crore Rupees.

The objective of the scheme is to motivate the youth for acquiring vocational skills. In the first year of implementation, the scheme would facilitate benefit to around a million people. The scheme is branded as STAR (Standard Training Assessment and Reward) and is meant for promotional purposes which envisage the monetary reward, which in turn will in essence financially help those who wish to acquire a new skill or upgrade their skills to a higher level.

Union Finance Minister P Chidambaram

The major highlights of the scheme are as follows:

• A 1000 crore Rupees pan-India scheme launched by the Ministry of Finance
• Branded as STAR – Standard Training Assessment and Reward
• Objective is to benefit 1 million people
• Scheme to be implemented by National Skill Development Corporation
• Each tested and certified trainee to get an average of 10000 Rupees in order to cover training costs

About National Skill Development Corporation

• National Skill Development Corporation is a body under the Ministry of Finance.
• It is one of its kinds public private partnership endeavour with 51 percent equity held by private sector and 49 percent by the Union Government.
• Formed in 2010, NSDC is a professionally run not-for-profit company that includes 22 Sector Skill Councils and 87 training partners with over 2500 training centres spread across 352 districts in the country.

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